GBPCAD- Building up for bullish momentum?
**Daily**: In a very bullish trend. Gradually building momentum to break the previous daily resistance. MACD shows the bullish momentum is weak. Expecting a buy.
**4H**: As I mentioned in my last post, recent price action went to retest the previous key structure (red area) which now turn support. After the impulse, the pair is currently in correction stages with ascending channel, also can be identified as a flag pattern. MACD shows no much bullish/bearish momentum is in the pair.
**What to do now? When to sell?**
- The pair is having low volatility. Also can be a potential buildup for breaking daily resistance.
- Once the flag has been broken with appropriate price action, I will look for a long entry on this pair.
good luck traders!
**4H**: As I mentioned in my last post, recent price action went to retest the previous key structure (red area) which now turn support. After the impulse, the pair is currently in correction stages with ascending channel, also can be identified as a flag pattern. MACD shows no much bullish/bearish momentum is in the pair.
**What to do now? When to sell?**
- The pair is having low volatility. Also can be a potential buildup for breaking daily resistance.
- Once the flag has been broken with appropriate price action, I will look for a long entry on this pair.
good luck traders!
Trade closed manually
